British rocker Noel Gallagher has shrugged off rumours his former band Oasis are planning to reunite, joking that he would reform for a lifetime's supply of condoms or tea bags.

Speculation the Wonderwall hitmakers were set for a comeback reached fever pitch last week after singer Liam Gallagher shared the band's name one letter at a time on his Twitter.com page.

Several British bookmakers subsequently suspended betting on Oasis reuniting for a performance at Glastonbury festival in June, but the event's organisers have since denied the rumours.

Now guitarist Gallagher has quashed the gossip, telling British radio station talkSPORT, "I was in the newsagent the other day when the story broke and (British newspaper) the Daily Star said 'Oasis to get back together for £500 million', which is half a billion (pounds). I'd do it for half a billion anything. Yorkshire Tea bags, condoms, Pot Noodles."